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Debts

Volume 474: debated on Tuesday 1 April 2008

To ask the Chancellor of the Exchequer what estimate he has made of the average debt (a) excluding and (b) including mortgages of (i) women and (ii) men aged between 22 and 29 years in each income decile. (196641)

The information requested falls within the responsibility of the National Statistician, who has been asked to reply.

Letter from Karen Dunnell, dated 31 March 2008:

As National Statistician, I have been asked to reply to your recent Parliamentary Question on what estimate has been made of the average debt (a) excluding and (b) including mortgages of (i) women and (ii) men aged between 22 and 29 years in each income decile. (196641)

Although the UK National Accounts include balance sheet estimates of total financial liabilities of the household and non profit institutions serving households (NPISH) sectors, it is not possible to separate these two sectors. Examples of institutions included within the NPISH sector are: charities; trade unions; universities; churches and political parties.

It is possible to identify loans secured on dwellings by banks, building societies and other types of financial institutions, but it is not possible to break this down by gender, age or income decile.

The estimates in the following table show total debt including and excluding loans on dwellings and averages using total population estimates. The balance sheet estimates are available up to 2007 and are consistent with data published on the 28th March 2008. Population estimates for 2007 are as yet not available so average debt is shown up to 2006.

Year

Total population (thousand)

Total financial liabilities(£ million)

Average financial liabilities (£000)

Loans on dwellings by banks(£ million)

Loans on dwellings by building societies(£ million)

Loans on dwellings by other financial institutions(£ million)

Total financial liabilities less loans on dwellings(£ million)

Average financial liabilities less loans on dwellings (£000)

1987

56,804

270,000

4.75

35,950

131,556

15,305

87,189

1.53

1988

56,916

323,144

5.68

45,335

155,276

22,178

100,355

1.76

1989

57,076

372,302

6.52

79,192

152,558

24,922

115,630

2.03

1990

57,237

418,581

7.31

85,677

176,661

31,071

125,172

2.19

1991

57,439

450,412

7.84

90,372

197,228

32,057

130,755

2.28

1992

57,585

466,498

8.10

96,470

211,351

30,384

128,293

2.23

1993

57,714

482,432

8.36

108,554

219,556

28,380

125,942

2.18

1994

57,862

504,695

8.72

115,929

231,170

27,957

129,639

2.24

1995

58,025

528,927

9.12

139,900

223,237

26,557

139,233

2.40

1996

58,164

550,108

9.46

158,209

223,905

26,195

141,799

2.44

1997

58,314

586,659

10.06

305,687

97,578

26,414

156,980

2.69

1998

58,475

625,134

10.69

320,564

106,331

29,006

169,233

2.89

1999

58,684

675,599

11.51

345,031

113,497

34,326

182,745

3.11

2000

58,886

734,790

12.48

386,334

106,990

41,742

199,724

3.39

2001

59,113

810,665

13.71

418,644

113,413

58,181

220,427

3.73

2002

59,323

923,144

15.56

467,601

123,638

78,151

253,754

4.28

2003

59,557

1,046,913

17.58

511,049

142,312

119,570

273,982

4.60

2004

59,846

1,172,032

19.58

543,063

160,116

172,673

296,180

4.95

2005

60,238

1,249,393

20.74

558,615

167,041

212,670

311,067

5.16

2006

60,587

1,406,464

23.21

586,644

182,367

277,274

360,179

5.94

2007

1,532,445

604,662

194,277

347,860

385,646

Source:

United Kingdom Economic Accounts 2007 quarter 4

http://www.statistics.gov.uk/statbase/Product.asp?vlnk=1904